Holy crap, River's in-house model directly estimates Bitcoin's peak price at $840,000. They're calculating global asset allocation for the next 3–5 years. If 20%–40% of investment portfolios start holding Bitcoin, with an average allocation of 2%–4% to BTC, it could bring in an additional $1.3 trillion–$5.3 trillion in funds. River then applied a 3x market cap multiplier to this portion of funds. Based on this model, Bitcoin's final market cap could reach $5.5 trillion–$17.5 trillion, with a single coin priced around $250,000–$840,000. The global financial asset pool is massive. If just a small portion of traditional funds gradually increases Bitcoin allocation from 0% to 2%, 3%, or 4%, the influx of capital would already be insane.